Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

Some firms are undergoing their second or third rounds of terminations since the beginning of the year.

The firm raised $40 million in a Series A funding round in March and recently touted a valuation of $640 million.

One loan diversion scheme was allegedly revealed by a confused consumer’s complaint with federal regulators.

Terminated consultants told a news outlet they received mixed messages on bank policy while committing the conduct in question.

Mortgage Cadence, the No. 3 loan origination system provider, believes it will pick up market share among nonbanks if the deal between the two heavyweight entities goes through.

This second group of terminations will take place in June and July, according to nine separate notifications filed in California.

Also, Academy Mortgage promotes COO to president, Movement focuses on diverse lending and Guaranteed Rate opens new branches on the coasts.

CEO Vishal Garg is on the hook for any losses stemming from a $750 million convertible bridge note investment, a fact he allegedly recently acknowledged to employees.

Mid America will retain its focus on technology, third-party originations and secondary market executions for specialty products while helping the acquirer expand the scope of its operations.

Intercontinental Exchange Inc. is tapping the investment-grade market with a bond sale in as many as six parts to help finance its acquisition of the fintech.

The vote was 51-50 in favor, with Vice President Kamala Harris breaking a tie as opposition by Republicans continued.

Forecasting that it will not turn a profit in the 2022 fiscal year, the company plans to make job cuts, suspend dividends and introduce new products.

Embattled online mortgage lender Better is turning to a former Goldman Sachs Group Inc. consumer-banking veteran to help it pursue a public listing just as rising interest rates pressure the business already reeling from a slew of personnel missteps.

The complaint claims outgoing staff downloaded information regarding a combined thousands of loans to their personal emails before departing for CrossCountry Mortgage.

The market is discounting the acquisition target’s stock price, largely over antitrust considerations, but execs dismissed the concern, and analysts said ways around it exist.

But the deal could be derailed by antitrust concerns given the size of both companies in the mortgage technology field.

The transaction is expected to keep revenues flat at the company at a time when mortgage origination volume is shrinking.

Some lenders and their parent companies are reconsidering their loan-channel mix and business lines as refinance volumes fall and margins shrink; others are doubling down.

United Wholesale CEO Mat Ishbia criticized his Detroit mortgage rival for recent job cut announcements in a post that has generated hundreds of responses.